Specially Designated Nationals and Blocked Persons List

Melissa’s Data Tools Power ‘Know Your Business’ Strategies for Compliance and Accurate Risk Profiles

Retrieved on: 
Wednesday, September 20, 2023

Complementing Know Your Customer (KYC) operations designed to identify individuals and their associated levels of risk, KYB strategies enable financial institutions to assess legitimacy and credibility of business customers in real time.

Key Points: 
  • Complementing Know Your Customer (KYC) operations designed to identify individuals and their associated levels of risk, KYB strategies enable financial institutions to assess legitimacy and credibility of business customers in real time.
  • Melissa will feature its KYB tools and services at Identity Week America 2023 , October 3-4, at the Walter E. Washington Convention Center in Washington, D.C., booth #247.
  • Melissa’s scalable KYB tools access trusted global data streams, such as credit bureaus, government agencies, and utility records, pairing data with recognized business registries or global regulators.
  • The company’s optimized KYB platform also streamlines access to data on global sanctions and politically exposed persons (PEP).

Here's how China is responding to US sanctions – with blocking laws and other countermeasures

Retrieved on: 
Friday, July 21, 2023

After a recent meeting between U.S. Treasury Secretary Janet Yellen and officials in Beijing, China released a statement demanding “practical action” over the issue of sanctions.

Key Points: 
  • After a recent meeting between U.S. Treasury Secretary Janet Yellen and officials in Beijing, China released a statement demanding “practical action” over the issue of sanctions.
  • Clearly, the economic measures are hurting China – prompting not only tough words but also countermeasures to limit their impact.
  • As a professor of law and an expert on international trade, I study both how the U.S. sanctions China and how China attempts to counter these sanctions.

How sanctions work

    • Economic sanctions are considered an important foreign policy tool that can be used to influence and change the behavior of countries.
    • Some sanctions are intended to restrict China’s technological capabilities by limiting access to key tech suppliers.
    • In the case of China, sanctions have harmed producers and consumers in both countries.
    • With primary sanctions, the U.S., for example, forbids imports of any product from the country being sanctioned.
    • Primary sanctions also bar all U.S. companies from doing any business with the country or entities within it.

Targeting individuals and businesses

    • In recent years, U.S. sanctions against China have become more targeted against specific individuals, products and companies.
    • Individuals and businesses on the list have their assets blocked, and U.S. citizens are prohibited from dealing with them.
    • There are hundreds of Chinese individuals and businesses on the list, including officials in China’s Hong Kong liaison office and major corporations such as China National Electronic Import-Export Company.
    • Blocking statutes typically allow an individual or business to not comply with U.S. laws and require individuals and businesses to notify authorities about any U.S. sanction enforcement measures.

China’s countermeasures

    • The Chinese government has taken several countermeasures to retaliate against U.S. sanctions in recent years.
    • In addition, censured individuals or businesses can be slapped with a freezing of assets and prevented from doing business in China.
    • Unfortunately, the effectiveness of these countermeasures is unclear.
    • There are no available statistics to determine whether they have mitigated the impact of U.S. sanctions.

Caught in the middle

    • Imposing sanctions and countersanctions can make it difficult for any foreign country or company that wants to do business in both countries.
    • Both the U.S. and China are likely to not push sanctions too hard, so as not to engage in a full-blown trade war.
    • In the meantime, Huawei has seen a decline in revenue and shifted money toward more research and development.
    • The experience of Huawei underscores why Beijing is eager to find a way to counter U.S. sanctions.
    • It seems that at least for now China has settled on a policy of blocking tactics at home while upping rhetoric on the international stage.

Melissa Points to Real-Time Data Quality as Key to Compliance Initiatives in Online Gambling

Retrieved on: 
Wednesday, May 31, 2023

A multi-part, automated data quality strategy offers ease of use that helps digital casinos prioritize regulatory compliance as well as customer engagement and profitability.

Key Points: 
  • A multi-part, automated data quality strategy offers ease of use that helps digital casinos prioritize regulatory compliance as well as customer engagement and profitability.
  • “For online gambling platforms to thrive, they must recognize the outsized role of robust data quality – essential in meeting regulatory demands, as well as overall business objectives.
  • For example, initial data validation occurs in real-time during the onboarding process, creating a seamless experience between online gambling hosts and wagering customers.
  • Compliance is dependent on current, relevant data from multiple sources – a range of data streams containing billions of global contact records.

Polymetal: Update on the Russian-registered JSC Polymetal

Retrieved on: 
Monday, May 22, 2023

Polymetal International plc (the “Company” or “Polymetal”) wishes to provide an update and clarify the position on the designation by the U.S. Department of State of JSC Polymetal (AO Polymetal) on 19 May 2023.

Key Points: 
  • Polymetal International plc (the “Company” or “Polymetal”) wishes to provide an update and clarify the position on the designation by the U.S. Department of State of JSC Polymetal (AO Polymetal) on 19 May 2023.
  • As a result of this designation, JSC Polymetal has been added to the Specially Designated Nationals and Blocked Persons List (“SDN List”) and U.S. persons are prohibited from transacting with JSC Polymetal and any entities that are owned, directly or indirectly, 50 percent or more, by JSC Polymetal, including its Russian-registered subsidiaries.
  • JSC Polymetal does not have any operations outside of the Russian Federation.
  • This statement by OFAC also makes clear that neither the Department of State nor OFAC have designated the Company (being Polymetal International plc as the parent company of JSC Polymetal), or its non-Russian subsidiaries.

Ozon Announces Changes to Its Board of Directors and Top Management

Retrieved on: 
Tuesday, April 12, 2022

The Companys Chief Financial Officer, Igor Gerasimov, will replace Alexander Shulgin as an Executive Director on the Board of Directors.

Key Points: 
  • The Companys Chief Financial Officer, Igor Gerasimov, will replace Alexander Shulgin as an Executive Director on the Board of Directors.
  • Management of the Company will now be undertaken by the Management Board comprised of several members of the management team.
  • The new Management Board will make strategic decisions and will manage business operations based on the principle of collegial management, which has de facto been in place at Ozon and already proven to be highly effective.
  • I am confident the Management Board will continue to implement the Companys strategy of fast growth, best in class services and improving operational efficiency.

Ozon Updates on Its Fourth Quarter and Full-Year 2021 Unaudited Financial Results

Retrieved on: 
Thursday, April 7, 2022

The information for the three months and twelve months ended December 31, 2021 contains preliminary estimates.

Key Points: 
  • The information for the three months and twelve months ended December 31, 2021 contains preliminary estimates.
  • Export control measures could also impact our operations if they limit our ability to source technology or goods from other countries.
  • Ozon acquired 100% of share capital of Oney Bank LLC (now Ozon Bank) from Sovcombank on May 26, 2021, when Oney Bank ceased to be an affiliate of Sovcombank.
  • On February 25, 2022, Ozon filed a request to OFAC to remove Ozon Bank from the SDN List because Ozon Bank is not linked to Sovcombank.

Ozon Informs about Further Developments at Ozon Bank

Retrieved on: 
Thursday, March 31, 2022

Ozon Holdings PLC (NASDAQ and MOEX: OZON, thereafter referred to as we, us, our, Ozon or the Company), a leading Russian e-commerce platform, announces that today its banking subsidiary, Limited Liability Company Ozon Bank (Ozon Bank), was removed from the Specially Designated Nationals and Blocked Persons List (the SDN List) by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department.

Key Points: 
  • Ozon Holdings PLC (NASDAQ and MOEX: OZON, thereafter referred to as we, us, our, Ozon or the Company), a leading Russian e-commerce platform, announces that today its banking subsidiary, Limited Liability Company Ozon Bank (Ozon Bank), was removed from the Specially Designated Nationals and Blocked Persons List (the SDN List) by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department.
  • As per our press release Ozon Informs about Developments at Ozon Bank, on February 24, 2022, Ozon Bank was included in the SDN List by OFAC as an entity linked to Sovcombank Open Joint Stock Company.
  • Ozon acquired 100% of share capital of Oney Bank LLC (now Ozon Bank) from Sovcombank on May 26, 2021, when Oney Bank ceased to be an affiliate of Sovcombank.
  • On February 25, 2022, Ozon filed a request to OFAC to remove Ozon Bank from the SDN List because Ozon Bank is not linked to Sovcombank.

Ozon’s Comments on Impact of U.S., EU and Other Sanctions on Its Operations

Retrieved on: 
Tuesday, March 1, 2022

Both sellers and buyers can continue to supply and purchase goods through Ozons e-commerce platform as usual.

Key Points: 
  • Both sellers and buyers can continue to supply and purchase goods through Ozons e-commerce platform as usual.
  • Transacting on our e-commerce platform continues without any disruptions resulting from sanctions.
  • We continue to process payments of our customers and pay our sellers in the regular way.
  • Ozon can provide no assurance of the outcome and timing of the OFAC resolution on Ozons application.

Press Leaders Condemn Crackdown on Journalists in Belarus

Retrieved on: 
Tuesday, July 20, 2021

WASHINGTON, July 20, 2021 /PRNewswire/ -- U.S. press leaders spoke out Tuesday against the government in Belarus for its escalating attacks on journalists.

Key Points: 
  • WASHINGTON, July 20, 2021 /PRNewswire/ --U.S. press leaders spoke out Tuesday against the government in Belarus for its escalating attacks on journalists.
  • "We condemn Alexander Lukashenko's brazen attacks on journalists and other independent voices in Belarus," said Lisa Nicole Matthews, the National Press Club president, and Angela Greiling Keane, president of the National Press Club Journalism Institute.
  • Svetlana Tikhanovskaya defeated Lukashenko in the August 2020 presidential election in Belarus, but Lukashenko instead claimed victory and retained power.
  • Speaking at the National Press Club on Tuesday, Tikhanovskaya said Lukashenko is destroying the media in Belarus.

Secretary for Constitutional and Mainland Affairs and Privacy Commissioner Attended Meeting of the Legislative Council Panel on Constitutional Affairs on Proposed Amendments to the Personal Data (Privacy) Ordinance

Retrieved on: 
Thursday, May 20, 2021

b'The Secretary for Constitutional and Mainland Affairs, Mr Erick TSANG Kwok-wai, IDSM, JP, and the Privacy Commissioner for Personal Data, Hong Kong, Ms Ada CHUNG Lai-ling, attended the meeting of the Legislative Council Panel on Constitutional Affairs on 17 May 2021 on the Government\xe2\x80\x99s proposed amendments to the Personal Data (Privacy) Ordinance and answered questions from the Legislative Council Members.\nPlease click here for the paper provided by the Government.\n'

Key Points: 
  • b'The Secretary for Constitutional and Mainland Affairs, Mr Erick TSANG Kwok-wai, IDSM, JP, and the Privacy Commissioner for Personal Data, Hong Kong, Ms Ada CHUNG Lai-ling, attended the meeting of the Legislative Council Panel on Constitutional Affairs on 17 May 2021 on the Government\xe2\x80\x99s proposed amendments to the Personal Data (Privacy) Ordinance and answered questions from the Legislative Council Members.\nPlease click here for the paper provided by the Government.\n'